Cecily Zamora
Tax law is a complex and ever-changing field that deals with the system of laws governing the taxes imposed by governments. It covers a wide range of topics, including federal, state, international, pension and benefits, estate planning, and payroll. The analysis of tax law involves understanding the rules, policies, and regulations that oversee the tax process, as well as interpreting and examining various sources of law such as statutes, regulations, and case law. With new laws frequently being passed, court decisions made, and official rulings released, tax law analysis can be challenging. However, with the right tools and resources, such as research guides, databases, and practice areas, individuals can navigate the complex world of tax law and gain valuable insights into its implications.
| Characteristics | Values |
|---|---|
| Tax law definition | A system of laws that relate to the taxes imposed by the government. |
| Tax law purpose | To raise revenue to fund public services and infrastructure, like schools, hospitals, and roads. |
| Tax law scope | Rules, policies, and regulations that oversee the tax process, including charges on estates, transactions, property, income, licenses, and more. |
| Tax law practice areas | Corporate tax, international tax, partnership tax, tax litigation, state and local tax, personal tax, estate planning, tax-exempt organizations, executive compensation, etc. |
| Tax law practice settings | Large law firms, boutique tax firms, accounting firms, federal and state government agencies, nonprofit organizations, corporations, tax courts, etc. |
| Tax law clients | Individuals, public and private companies, governments, non-profits, educational and healthcare entities, private foundations, trade associations, etc. |
| Tax law analysis tools | Primary sources (statutes, regulations, case law) and secondary sources (materials that explain, interpret, or analyze the law). |
| Tax law resources | Lexis, Westlaw, Bloomberg Law, Checkpoint, VitalLaw, Tax Foundation, PWC's International Tax News, ATPI, etc. |
| Tax law education | Tax courses, graduate classes in LL.M. program, LL.M. in Taxation, coursework in corporations, securities regulations, accounting, etc. |
| Tax law challenges | Complexity, frequent changes, multiple sources of law, difficulty in finding complete information. |
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What You'll Learn
International tax law
To analyse international tax law, one must be aware of the various tax treaties that exist between countries. These include the Vienna Convention on the Law of Treaties, the Convention on Mutual Administrative Assistance in Tax Matters, and the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent BEPS (MLI). These treaties serve as a starting point for negotiations and are not binding. Additionally, one must consider the specific tax laws of each country involved, as these vary greatly. For example, Vietnam used to tax its citizens on worldwide income, but a 2007 law removed citizenship as a criterion to determine residence.
When it comes to multinational corporations, international tax specialists are often employed to decrease worldwide tax liabilities. This can be done by shifting or recharacterizing income in a manner that reduces taxation, although jurisdictions often impose rules to prevent this, known as transfer pricing rules.
To effectively analyse international tax law, it is important to stay up to date with the latest developments in the field, utilise research tools and databases, and understand the tax laws and treaties of multiple countries.
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Formal and material tax law
The principle of material truth in tax law asserts that tax disputes are resolved in both the administrative and judicial spheres, and because the former is governed by substantial truth, there is no reason for what it should not be. The material truth is also important because tax law involves fundamental values of the citizen, such as property rights.
In Brazilian law, the principle of material truth is especially important because tax disputes are resolved in both the administrative and judicial spheres. The administrative sphere is governed by substantial truth, so there is no reason for the principle of material truth not to prevail in the judicial sphere as well.
The principle of material truth is also important because it protects citizens' fundamental values, such as property rights. This is further supported by Criminal Law, whose procedural rules are governed by the Material Truth.
In contrast, the Formal Truth Institute in Brazilian procedural law assumes that social peace requires the verification of truth in its substance, otherwise, the entire judicial apparatus will be rendered useless, becoming a mere means of conflict without a just solution.
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Tax research
The first step in tax research is to establish and analyse the facts of the case. This involves gathering information, understanding the context, and identifying the specific tax issues that need to be addressed. This initial step is crucial for effectively pinpointing the relevant tax laws, regulations, and authorities that will form the basis of the analysis.
The next step is to locate and identify the relevant tax authorities and sources of information. This may include legislative, administrative, and judicial authorities, such as constitutions, legislation, court decisions, cases, statutes, and regulations. It is important to note that no single resource will likely provide complete information, so researchers must consult a variety of databases, libraries, and online platforms. For example, researchers can utilise resources like Bloomberg Tax, Westlaw, Lexis Advance, and Checkpoint, which offer comprehensive information and tools specifically for tax research.
Once the relevant authorities and information sources have been identified, the researcher must then evaluate and check the usefulness and applicability of those authorities to the specific situation at hand. This involves assessing the strength and relevance of the authority, including its binding or persuasive nature. Binding authorities are those that a court must follow, while persuasive authorities are those that the court may choose to follow but are not mandatory. This step ensures that the analysis is based on reliable and appropriate sources.
Finally, the researcher applies the results of the research to the specific tax issue or problem. This may involve implementing complex transactions, counselling clients on the tax implications of their actions, or preparing for an IRS audit. The research should provide clear guidance and inform strategic decisions to resolve the tax problem thoroughly and effectively.
In conclusion, tax research is a meticulous process that requires a systematic approach, a deep understanding of tax laws and regulations, and creative problem-solving skills. By following these steps and utilising comprehensive resources, tax researchers can provide valuable insights and solutions to their clients or organisations, ensuring compliance and making informed decisions regarding tax strategies and planning.
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Tax litigation
Tax law deals with the laws and regulations that govern the tax process. Tax lawyers often focus on a specific area, including corporate tax, international tax, partnership tax, tax litigation, state and local tax, personal tax, estate planning, tax-exempt organizations, and executive compensation and benefits.
An example of a civil matter is an IRS civil audit, which is announced via a letter from the IRS. There are different levels of audit, which may result in a finding that additional tax is owed. If the taxpayer protests, there is a process to appeal the decision, which may ultimately reach the U.S. Tax Court.
An example of a criminal tax matter is an IRS criminal tax investigation, which may start out as a civil audit. During the audit, the civil IRS examiner may alert a criminal tax investigator. The matter undergoes internal review at the IRS before a criminal investigation is initiated. In a federal case, a grand jury may be empaneled to determine if there is cause to indict the individual against whom allegations have been developed.
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Tax law analysis tools
Tax law analysis requires a good understanding of the relevant laws and regulations, as well as the ability to interpret and apply them to specific situations. There are several tools available that can aid in this process, providing accurate and up-to-date information, insights, and guidance.
One such tool is Bloomberg Tax, which offers industry-leading technology to ensure accuracy and minimize risk. It provides access to trusted news and analysis, as well as automation to reduce manual errors and increase efficiency. Bloomberg Tax also offers Workpapers, which allow users to quickly access the information needed for calculations, and Provision, which streamlines compliance processes.
LexisNexis also provides tax law research tools, including Lexis Tax and Lexis Advance. These platforms offer convenient source selection, simple-to-use research tools, and the ability to save and share searches and documents. The exclusive Lexis® Tax Advisor—Federal Code Reporter links users to legislative history, treasury regulations, and explanations. LexisNexis also offers Shepard’s® Citations Service, which allows users to know if relevant material is still good law.
VitalLaw® Tax Law Research Software by Wolters Kluwer combines the resources of CCH and Kluwer International, offering authoritative content, expert analysis, practice tools, and insights on challenging tax matters. It provides dynamic workflow solutions, with customizable practice pages for Federal Tax, International Tax, State & Local Tax, and Estates, Gifts & Trusts Tax.
TaxGPT is an AI-powered tax assistant that delivers up-to-date answers to complex tax questions, helping users identify eligible deductions, avoid overpaying taxes, and stay compliant. It also enables users to draft tax memos, respond to IRS notices, and handle client communications.
Checkpoint Catalyst by Thomson Reuters provides tax research tools and practical guidance for resolving tax questions related to business transactions. It offers a multi-layered approach to understanding and interpreting search queries, covering state, federal, and US international tax implications.
In addition to these commercial tools, there are also independent and non-profit organizations, such as the Tax Foundation, that provide tax law research and analysis. Harvard Library also offers a guide to tax law resources, which includes a range of databases and research platforms, such as Lexis, Westlaw, and Bloomberg Law.
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Frequently asked questions
Tax law is a system of laws that relate to the taxes imposed by the government. It covers the rules, policies, and regulations that oversee the tax process, which involves charges on estates, transactions, property, income, licenses, and more by the government.
Tax law analysis involves understanding the laws and regulations that govern the tax process and their impact on individuals and businesses. It also involves staying up to date with new laws being passed, court decisions, and official IRS rulings.
Tax law can be divided into material tax law and formal tax law. Material tax law involves the analysis of the legal provisions that give rise to the charging of a tax, while formal tax law concerns the rules laid down in the law regarding assessment, enforcement, procedure, coercive measures, administrative and judicial appeal, and other such matters.
There are many resources available for tax law research, including databases such as Lexis, Westlaw, and Bloomberg Law, which offer Practice Centers focused on Tax Law matters. Other resources include the U.S. Department of the Treasury's Office of Tax Analysis, which provides background papers, position papers, policy memoranda, and analytical reports on tax policy, and the Tax Foundation, which produces high-quality data, research, and analysis on tax policy issues.
Tax attorneys work in a variety of settings, including large law firms, boutique tax firms, accounting firms, federal and state government agencies, nonprofit organizations, corporations, and tax courts. They may specialize in areas such as corporate tax, international tax, partnership tax, tax litigation, state and local tax, personal tax, and estate planning.
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